PowerVR 5 is being developed

You may recall PowerVR, the graphics division of the former Videologic (now called Imagination Technologies), although we haven't heard from these guys in a long time, xbit is reporting that the PowerVR 5 technology development is close to its end.

PowerVR 5 has already been licensed by Sega to use in arcade machines however the big question will be, whether they plan to release a 3d chip for the PC based on this 5th iteration of the PowerVR technology. You may not remember this but PowerVR were the ones who pioneered Tile Based Rendering for optimizing 3d graphics performance and were some of the first to hint actual usage of Pixel Shaders 3.0 for programming real-time 3D graphics on the PC.